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Tag Archives: Zynga Game Network Inc.
According to PayPal, in excess of 12 million users are shelling out for games on Facebook each month. With the social networking site estimating users at 750 million, that means that only 1.6 percent of Facebook users pay for games. That may not seem like a large demographic, but it has been enough to generate hundreds of millions of dollars for game developers like Zynga.
Game developer Zynga, responsible for popular titles Farmville, Cityville, and Words With Friends, filed to raise up to $1 billion in an initial public offering, according to SEC documents. The company’s popularity is undeniable–Zynga counts 60 million daily active users spending a total of 2 billion minutes per day playing its various games–though popularity and profitability do not necessarily go hand-in-hand.